Announcement on Release of Guarantee of
Senior Loan and Yen-denominated Unsecured
Straight Corporate Bonds in Connection
with Approval of Listing of SoftBank Corp. Shares
November 12, 2018
SoftBank Group Corp.
SoftBank Group Corp. (“SBG”) announces that the release of guarantees provided by SoftBank Corp. of certain of SBG's liabilities, including the loan (the “Senior Loan”) made pursuant to the loan agreement dated November 2, 2017 and the yen-denominated unsecured straight corporate bonds issued by SBG, as described below. This guarantee release is in connection with the approval by Tokyo Stock Exchange, Inc. on the listing of SoftBank Corp. shares, as separately announced today in “Approval of Listing of SoftBank Corp. Shares and Disposal of Shares Held by a Wholly Owned Subsidiary of SoftBank Group Corp.”
1. Release of Guarantee of the Senior Loan
As announced in “Announcement on Senior Loan Guarantee in Relation to Preparations to List SoftBank Corp.” dated May 9, 2018, SBG previously obtained consent from the relevant lenders to release the guarantee provided by SoftBank Corp. of the Senior Loan (a portion of which correspond to the refinancing of obligations under the loan agreement dated September 13, 2013. The same applies hereinafter.), subject to the approval by Tokyo Stock Exchange, Inc. on the listing of SoftBank Corp. shares. This consent became effective as of today, November 12, 2018, upon the approval by Tokyo Stock Exchange, Inc. of the listing of SoftBank Corp.
As the guarantee provided by SoftBank Corp. of the Senior Loan has been released, all other guarantees provided by SoftBank Corp. of SBG's other loans and unsecured straight corporate bonds, including yen-denominated and foreign currency-denominated bonds, will also be released, successively, subject to the formalities stipulated in the terms of the respective agreements, bond prospectuses, and indentures. This will result in all of SBG's liabilities becoming unguaranteed.
2. Release of Guarantees of the Yen-denominated Unsecured Straight Corporate Bonds
As the guarantee provided by SoftBank Corp. of the Senior Loan has been released, SBG is also releasing the guarantee provided by SoftBank Corp. of SBG's yen-denominated unsecured straight corporate bonds outstanding as of November 19, 2018. This is pursuant to the formalities stipulated in the guarantee agreement between SBG and SoftBank Corp. and the terms of the respective prospectuses of the relevant unsecured corporate bonds. There will be no administrative procedures required for holders of the relevant unsecured corporate bonds in connection with this release of the guarantee.
Yen-denominated unsecured straight corporate bonds subject to the release of the guarantee are the bonds outstanding as of November 19, 2018, as below. No guarantee is provided to the 53rd unsecured straight bonds and the 54th unsecured straight bonds.
|Description of bonds||Maturity Date||Interest rate||Outstanding
|44th Unsecured Straight Bond||November 27, 2020||1.689%||JPY 50bn|
|45th Unsecured Straight Bond||May 30, 2019||1.45%||JPY 300bn|
|46th Unsecured Straight Bond||September 12, 2019||1.26%||JPY 400bn|
|47th Unsecured Straight Bond||June 18, 2020||1.36%||JPY 100bn|
|48th Unsecured Straight Bond||December 9, 2022||2.13%||JPY 370bn|
|49th Unsecured Straight Bond||April 20, 2023||1.940%||JPY 20bn|
|50th Unsecured Straight Bond||April 20, 2026||2.480%||JPY 30bn|
|51st Unsecured Straight Bond||March 15, 2024||2.03%||JPY 400bn|
|52nd Unsecured Straight Bond||March 8, 2024||2.030%||JPY 50bn|
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